Business Report: Business support, Perth Amboy solar project, GameStop stock

Lawmakers signed off on a bill to shield income from PPP loans from state taxes

State lawmakers have approved several bills designed to help ease the pain for businesses dealing with pandemic-related restrictions. One bill approved by the Senate would create a $50 million program to provide more financial assistance to minority-owned businesses. The Senate also approved a bill that would provide income tax credits to business owners who made COVID-19-related safety improvements to their workspaces. Additionally, lawmakers signed off on a bill to shield income from PPP (Paycheck Protection Program) loans from state taxes.

New Jersey’s first community solar project is now complete. The Perth Amboy project is part of a pilot program that is designed to make sure underserved communities have access to clean energy. In all, 45 community solar projects are set to be built in New Jersey.

A Wall Street sell-off Friday is partly blamed on volatile trading in shares of GameStop, a video game retailer. The stock soared this week after individual investors began buying up shares and used the social media platform Reddit to urge others to buy stock. This was going on even as big-money Wall Street investors were betting GameStop stock would fall.

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